Apply for this savings account using one of the methods below.
1 Year Childrens Fixed Rate Bond – Issue 254.
The interest rate is fixed. Interest is calculated daily and paid annually.
| 1 Year Online Fixed Rate Bond | Current Rates |
|---|---|
| Annual Interest | Rates effective from: 02/10/2026 |
| Balance | Gross | AER† |
|---|---|---|
| £1000.00 and above | 3.50% | 3.50% |
Gross is the interest payable before any tax is deducted.
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added to the account.
If your Bond has a fixed term of one year or less, interest will be paid on maturity. For Bonds with a fixed term of more than one year, interest will be added to your Bond on each anniversary of the account opening and at the end of the term, unless you choose to have your interest paid away to another account.
The interest on this account is fixed for the term of the Fixed Rate Bond and cannot be changed.
Based on the interest rate, if you deposited £1,000 in this account, on maturity you would have £1,035.00. This figure is for illustration purposes and is based on no additional deposits during the term of the bond. For illustrative purposes only and does not take into account individual circumstance.
To open an account you must be permanently resident in the UK. If you are between 7 and 17 years you can open and operate the account in your sole name.
Alternatively, a parent, guardian or relative can open an account, and as trustee, will operate the account on your behalf. Simply call into your local branch and complete an application form. Identification for children’s accounts requires two forms of ID for the child and two forms of ID for the parent or guardian acting as trustee. when you open your account, details of our requirements can be obtained from the “before you apply section” on this page, your local branch or by calling us.
This account is intended solely for the child’s benefit, and all funds deposited legally belong to the child. The trustee is responsible for managing the account in the child’s best interests and withdrawals must be made for the benefit of the child.
Minimum deposit is £1,000 – maximum balance is £300,000. No Additional receipts are permitted. Only one account per Member. Once the account has been opened it can be managed either in branch and/or via the post.
This is a Fixed Rate account and fixed until maturity; there is no early access or early closure of this account permitted.
Funds will be available for transfer or withdrawal after the end of the fixed period.
The balance plus interest must be withdrawn.
On maturity you will have the following three options:
If you don't choose an option listed above, the Society will open a new variable rate savings account with the Society and transfer the balance into the new account (This is the default option unless you tell us differently).
You will be contacted 14 days before maturity of this product to determine your ongoing requirements.
The treatment of your account for tax purposes will depend on your individual circumstances and you may need to pay tax on any interest that exceeds your Personal Savings Allowance. For more
information please visit HM Revenue & Customs’ (HMRC) website http://www.hmrc.gov.uk. The tax
information provided is based on our understanding of current law and HMRC practice, both of which may change.
Only 1 bond per Member is permitted.
UK residents only.
These product details should be read in conjunction with the Savings Terms and Conditions.
The Savings Terms and Conditions can be viewed online or requested from any branch of the Society.
Yes if
You are happy to lock away your money for a fixed term.
You are looking for an interest rate that won't change.
You want to open or manage your account in branch or via the post.
No if
You want instant access to your money.
You want to put money away on a regular basis.
You want to open and manage your account online.
Before opening an account, it is recommended you read the information below.
Find your nearest branch and visit for expert support and assistance from our team during the application process.